Dime Community Bancshares (NASDAQ:DCOM) Sets New 1-Year High – What’s Next?

Dime Community Bancshares, Inc. (NASDAQ:DCOM) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $38.00 and last traded at $37.76, with a volume of 31816 shares. The stock had previously closed at $36.90.

Analysts Set New Price Targets

DCOM has been the topic of a number of analyst reports. DA Davidson boosted their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods raised their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Wall Street Zen cut Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Piper Sandler initiated coverage on Dime Community Bancshares in a research note on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Dime Community Bancshares Stock Up 1.6%

The stock’s fifty day moving average is $35.25 and its two-hundred day moving average is $32.61. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.65 billion, a P/E ratio of 15.89 and a beta of 1.00.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. Dime Community Bancshares’s dividend payout ratio is presently 37.59%.

Insider Buying and Selling

In related news, Director Raymond A. Nielsen sold 1,650 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $37.09, for a total transaction of $61,198.50. Following the completion of the transaction, the director directly owned 35,607 shares in the company, valued at $1,320,663.63. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DCOM. Hilton Head Capital Partners LLC purchased a new position in Dime Community Bancshares during the fourth quarter worth about $28,000. Larson Financial Group LLC grew its position in Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after buying an additional 884 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after buying an additional 4,446 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares during the third quarter worth about $169,000. Finally, Maryland State Retirement & Pension System purchased a new position in Dime Community Bancshares during the first quarter worth about $202,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.